CMF @ highest level in 5 months....

Chaikin Money Flow is @ highest level in all indices in last 5 months or since last August.

CMF clearly defines that money is flowing in market @ highest pace since August......

Momentum is building in this TAPE.

This kind of money flow bodes well for future gains.

These gains could come in a hurry.

Lot of things are going right for this market.

Every time we think, there is a correction or pullback coming, TAPE turns around in 48 hours towards new all time high.

It is important to know the built in buying and strength in this bull market.

Do not underestimate the power of this bull market.

Major gains still to come in many individual stocks who are making new highs.

Buy the strength or buy consolidation both are good strategy.

Semiconductor is looking the best sector to zero in, many stocks are breaking out after consolidation.

Some Chinese stocks are also looking very strong.

Even solar stocks came to life lately.

All this points to a TAPE which is broadening, which is very healthy.

This is a short week with Monday closed in US & Canada, but world markets are open on Monday, which should give us new momentum for Tuesday onwards.

It is important not to limit your gains in this TAPE, let it run with conviction and patience, which is a change from previous TAPE which had not conviction @ all.

This is a very good TAPE which happens once in a decade.

Good luck with your strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed